Faculties and Departments > Business & Entrepreneurship

What is scarcity?

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Md. Alamgir Hossan:
Scarcity is the limited resources in contest of our demand. The poor and the rich alike face scarcity. A child wants a $ 1.00 can of soda and two 50 packs of gum but has only $1.00 in his pocket. So, he faces scarcity.
Scarce resources: So Resource limited between demands so this resources are scarce resources.

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